SRT - StarTek Inc Fri 13'th Jan 2017
Stock analysis for Fri 13'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-13
StarTek Inc Stock Analysis
StarTek Inc gained 1.66% in the last trading day rising from, USD 8.45 to USD 8.59. The price has been going up and down for this period, and there has been a 0.94% gain for the last 2 weeks. Volume fell in the last day by -34 837 shares and ,in total, 28 945 shares bought and sold for approximately USD 248 638. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
StarTek Inc lays in the lower part of a very wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 8.44 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.1% during the next 3 months and, with 90% probability will hold a price between USD 11.15 and USD 14.08 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday January 12, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. StarTek Inc holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 8.61. On a fall, the stock will find some support from the short-term average at USD 8.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. Volume fell during the last trading day while the share price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
StarTek Inc finds support from accumulated volume at USD 8.58, USD 8.44, and USD 8.28. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 8.63, USD 8.95 and USD 8.97.
The stock is about to test the resistance from accumulated volume at USD 8.63 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: USD 8.39 (-2.33%) ( based on support and risk)
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.